Property values are continually changing.
Home values appreciate in the long term usually.
But there are no "sure things" in real estate.
When your house appreciates you have a more valuable asset to borrow against, and you'll create a higher profit when you sell.
Property values in Burlington move up and down for different reasons, so how can you be sure what you're purchasing today won't depreciate the day after you close?
It's important that you go with an agent in Burlington who can identify the factors that drive local prices.
The economy is believed to be the greatest factor affecting real estate appreciation.
After all,
there are many issues on a national level that impact your house's value: unemployment, interest rates, business growth, and more.
But the most significant factors that determine your house's value are specific to the local Burlington economy and residential market.
Location in a community - Most people want homes in the areas with the most accommodating places we go often or everyday, such as our schools, jobs, and shopping.
So those areas typically appreciate, or hold their value, best.
Recent home sales - You should receive facts and figures on the recent real estate sales in the districts that you're interested in from your agent. You'll need to learn things like time on market and asking price as opposed to selling price.
Appreciation history - Have house prices increased or decreased over the past 5 to 10 years? Is the area believed to be desirable because of its location or affordability?
Local economy - Is there a good mixture of business in an area, or does it depend on just one industry? Have businesses moved into or away from an area? Are local businesses hiring?
These items play a part.